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Tag Archives: fiscal health
Getting in Fiscal Shape — How Changing Future Spending and Revenue Could Improve Government Finances (interactive graphic)
The COVID-19 pandemic has caused economic turmoil and resulted in unprecedented federal spending to address the public health and economic crisis. However, even before the pandemic, the federal government was on an unsustainable fiscal path caused by an imbalance in … Continue reading
How GAO Can Help in a Congressional and Presidential Transition
The 117th Congress and the incoming Presidential administration will be taking office in a time that presents significant challenges to the government. These include the coronavirus pandemic and its far-reaching public health and economic effects; the evolving issues around race … Continue reading
Posted in About GAO, Collections
Tagged Congress, congressional transition, Coronavirus, DOF, duplication, economic recovery, election, fiscal health, fragmentation, high risk list, overlap, pandemic, pandemic response, presidential transition, priority recommendations, race, transition
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Improper Payments on the Rise
Increasingly, the federal government is making payments it shouldn’t. Improper payments are when the federal government overpays, underpays, or makes payments to ineligible recipients. In FY 2019, federal agencies reported about $175 billion in estimated improper payments—up from $151 billion … Continue reading
The Nation’s Fiscal Health: A Warning about the Government’s Finances
Without a change in law or policy, the gap between the amount of money the federal government collects and the amount it spends will continue to grow, likely reaching $1 trillion in the next few years. We issued our third … Continue reading
Posted in Budget and Spending, Fiscal Outlook and The Debt, Podcast, Video
Tagged Dawn Simpson, debt-to-GDP ratio, federal debt, financial reports, fiscal condition, fiscal health, fiscal outlook, GDP, interest, long-term debt, Medicaid, medicare, national debt, Robert Dacey, SI, simulation, Susan Irving
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Gifts that Keep on Giving—and Saving
It’s the holiday season and gift-giving is in full swing. So, today we’re taking a look back at how our work for Congress keeps giving—and saving. Did you know we saved the government over $75 billion in FY18? That’s a … Continue reading
Posted in About GAO
Tagged financial services, fiscal health, gifts, high risk list, holiday, quick look, TARP, tax filing season
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The Nation’s Precarious Fiscal Future
The United States faces a highly challenging fiscal future. Absent change in policy, the federal fiscal path is unsustainable—debt is growing faster than the economy (GDP). This springs from the continuing gap between the amount of money the federal government … Continue reading
Posted in Budget and Spending, Fiscal Outlook and The Debt, Graphic, Podcast, Video
Tagged Dawn Simpson, federal debt, federal spending, fiscal future, fiscal health, FMA, GDP, Robert Dacey, SI, simulation, Susan Irving
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A Check-Up on the Government’s Fiscal Health
After 6 years of declining deficits, the federal deficit increased to $587 billion in 2016 and U.S. debt held by the public stood at about $14.2 trillion at the end of 2016. These figures are only expected to grow. The … Continue reading
Taking a Long Look at the Federal Budget
What’s the future of the federal budget? Since 1992, we have simulated how different policies would affect the federal deficit and debt. Our latest update, released Monday, shows that the federal government continues to face long-term fiscal challenges. The future … Continue reading